Expert answer:Movieflix Competition
Expert answer:Hello,The topic I’ve chosen was competion.I’ve enclosed previous assignments just in cause you need them for reference. Thank you!Now that you have your strategic plan in place, it’s time to assemble your team to help you to execute your plan.For your project this week you will need to do the following:In a minimum of 2 pages, prepare an essay explaining the types of teams that Rasmussen Consulting will need in order to carry out the steps that you mapped out in your strategic plan.What will be the role of the team members?Why are these particular teams important for Rasmussen Consulting to properly execute the solution to MovieFlix’s problem?Make sure to include an APA formatted title page and reference page for sources that you may have used for your research. Remember to follow APA guidelines when paraphrasing or quoting information. Don’t forget to cite your sources and include in-text citations as necessary.Submit your completed assignment to the drop box below. Please check the Course Calendar for specific due dates.Save your assignment as a Microsoft Word document. (Mac users, please remember to append the “.docx” extension to the filename.) The name of the file should be your first initial and last name, followed by an underscore and the name of the assignment, and an underscore and the date. An example is shown below:
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Business Issue Consultation
1
Business Issue Consultation
Lisa K. Flatin
Rasmussen College
November 12, 2017
Author Note
This paper is being submitted on November 12, 2017, for Glen Philbrick’s
B280/GEB2930 Business Capstone Course.
Business Issue Consultation
2
Rasmussen Consulting
4012 19th Ave South
Fargo, ND 58103
November 12, 2017
MovieFlix Corporation
1235 West 52nd Street
Suite 650
Oak Brook, IL 60523
Attention: Business Development Manager
Dear Mr. Jones
Subject: Business Issue Consultation
I am writing to inform you that I have carried out an in-depth research concerning the business
issue likely to affect your company. First, I figured out that increased competition within the ondemand internet streaming media is the one most significant problems within the industry.
Currently, several companies are operating in this industry.
The internet streaming media industry is changing at a high-speed rate. Due to this, companies
within this sector need to make profits by maintaining a competitive edge. The ability of a firm
Business Issue Consultation
3
to manipulate the various technologies used to deliver content to clients provides a remarkable
competitive advantage.
The increasing advancement in technology has made it easy for many companies to venture into
the business of on-demand internet streaming media. The fact that there are numerous people
who can access the internet from various parts of the world means that it is relatively easy for
companies to get customers for their digital products. Some companies offer the services at low
premium rates, low starting fees while others do not require their clients to pay starting fees.
The existence of many companies combined with an efficient technology means that internet
streaming media consumers have a variety of services to choose from. As a result, even the
incumbents have found themselves facing challenges resulting from these developments. Several
measures need to be taken to ensure that MovieFlix is successful in this highly competitive
market.
First and foremost, the company must create a vibrant brand. Developing original content as
opposed to using material produced by others. This would go a long way in bolstering
international growth for the firm. Measures should be put in place to ensure that the company
commands a considerable internet traffic.
In the current video streaming industry, companies are always striving to make sure that their
product is a very convenient one as far as entertainment is concerned. Since the company is
connected to the internet and uses this as its distribution channel, an ecosystem should be created
where various devices can be used to access the content. Such methods include computers,
mobile phones, televisions, etc.
Due to high competition, companies in this industry are actively looking for and venturing into
new markets. However, these new markets may not be generating profits as of yet. To counter
Business Issue Consultation
4
this, it is advisable to embrace a long-term strategy rather than on a short term. Using such a
plan, the company believes that it will make profits in the long run even if this has an element of
uncertainty.
To counter the problem of increased competition, MovieFlix should embark on creating new
markets in new countries. It is important to recognize that this will not generate profits
immediately but result in international market expansion. The company can also partner with
foreign firms and start offering services through these companies’ cables and set-top boxes.
I would like to take the pleasure of helping your company formulate strategies which will help
implement the following recommendations.
Sincerely,
Lisa K. Flatin
Increased Competition in the On-Demand Internet Streaming Media Industry
1
Business Problem
Lisa K. Flatin
Rasmussen College
November 12, 2017
Author Note
This paper is being submitted on November 12, 2017, for Glen Philbrick’s
B280/GEB2930 Business Capstone Course.
Increased Competition in the On-Demand Internet Streaming Media Industry
2
Increased Competition in the On-Demand Internet Streaming Media Industry
Introduction
Internet streaming media is an industry that is continuously and rapidly changing. Companies
offering on-demand internet streaming media have to do their best to gain and maintain
competitive advantages and to remain at the top of the competition. There are several different
kinds of technologies that are being used to deliver videos or audios to clients. These include
Streaming, webcasting, progressive downloading, podcasting, video blogging, and IP
conferencing (Rayburn, 2012). Competition is the one most important issue facing firms in this
industry.
The Problem
Several companies are finding it simple to enter the on-demand internet streaming business due
to the continuously increasing advanced digital technology. A majority of these companies offer
unlimited streaming services in the form of television shows, movies, original programming, and
unique comedy, to name a few. Firms in this industry provide on-demand internet streaming
services at varying rates.
Some of these companies require a certain amount of starting charges for a subscriber to begin
enjoying their services. Also, some other companies have no starting fees. Some of the
companies within the industry include Netflix, Hulu, PlayStation, Crackle, Amazon Video, Sling
Orange, Twitch, Vevo, and Funny or Die. The presence of a variety of companies and the
existence of the numerous, and innovative ways of delivering internet streaming content to
clients makes the on-demand internet streaming industry highly competitive.
Increased Competition in the On-Demand Internet Streaming Media Industry
3
Why Increased Competition is a Problem for Businesses
Businesses operating in an environment that is highly competitive may face some challenges.
Companies operating in such an environment often find it hard to make high profits (Porter,
2017). In an industry where there is increased competition, the existing customers are being
subdivided among the many other companies. This may also contribute to the reason for reduced
profitability. Entry into this kind of an industry is very easy. Thus long-term profitability is not
easy to achieve. Even the companies with strong financial muscles face the risk of decreased
returns in the event of introduction of alternative low-cost but superior quality internet streaming
services (Wallsten, 2015).
Increased competition within a market forces firms to devise strategies to survive in that
market. Most of these designed strategies and implementations are costly, reducing the
profitability of the business. For instance, a company may decide to invest more in research and
development to increase its competitive edge within the industry. Other strategies often executed
by organizations are: reduction of prices, improving marketing and promotion, and designing
new products.
Why the Problem of Increased Competition Exists
Due to the ability to quickly enter the internet streaming business, may cause increased
competition. The readily available channels and reasonably low starting prices make it easy for
new companies to venture into this industry. Distribution channels are simple to access due to
technology improvements and the availability of internet. With the increased number of people
accessing the internet across the globe, this circuit forms an accessible medium for on-demand
internet streaming companies to make their content available for customers.
Some of the Consequences if the Issue of Increased Competition is Unresolved
Increased Competition in the On-Demand Internet Streaming Media Industry
4
If unable to resolve the issue with increased competition within the on-demand streaming
market. Some firms may be forced to come up with exit strategies. Prolonged competition makes
it hard for many companies to make profits in the long run. Some businesses may find
themselves spending too much on promotions, research, and development, developing new and
original programs (Aghion, Bechtold, Cassar, & Herz, 2014). Once the associated costs become
too much, a company will run into losses, thus forced to exit the market.
Increased Competition in the On-Demand Internet Streaming Media Industry
5
REFERENCES
Aghion, P., Bechtold, S., Cassar, L., & Herz, H. (2014). The Causal Effects of Competition on
Innovation: Experimental Evidence. 1-31.
Porter, M. E. (2017). How Competitive Forces Shape Strategy. Retrieved from Harvard Business
Review: https://hbr.org/1979/03/how-competitive-forces-shape-strategy
Rayburn, D. (2012). Streaming and Digital Media: Understanding the Business and Technology.
CRC Press.
Wallsten, S. (2015). The Competitive Effects of the Sharing Economy: How is Uber Changing
Taxis? Technology Policy Institute , 1-22.
Competition
1
Competition
Lisa K. Flatin
Rasmussen College
November 19, 2017
Author Note
This paper is being submitted on November 19, 2017, for Glen Philbrick’s
B280/GEB2930 Business Capstone Course.
Competition
2
Competition in companies is essential as each tries to outsmart its competitor. This is
always beneficial to the consumers of the products or services because when there is
competition, it means the competing firms will endeavor to produce goods or services of high
quality to meet the needs of the customers. As a result, the users find themselves having a good
assortment to choose from with excellent condition. However, competition as a problem in a
company needs to be approached ethically. Failure to approach the problem morally can have
adverse effects on the firm. This paper, therefore, seeks to explore the importance of solving
competition challenge in the MovieFlix company by taking an ethical approach. Also, the study
will examine the consequences of behaving unethically while solving the problem as well as how
as a consultant I can help the firm solve the snag ethically.
Every company needs to be the best in the market by selling more to their consumers.
However, in situations when other firms from the same industry come up with ways of attracting
customers more than other companies, competition becomes stiff. It is this period that
management of the company ought to address the problem more ethically. Decision-making
during this time needs to be ethical to get maximum benefit from the approach. For example, the
business can increase its profitability by employing ethical strategies while competing with other
companies in the same industry. For instance, ensuring that it engages in a healthy competition
where it does not alter or use unethical means can go a long way to improving the firm’s
productivity (Zahra, Gedajlovic, Neubaum & Shulman, 2009). Admittedly, reflecting on how
decisions made to compete with other companies is essential. This is because the leadership of
the firm will analyze the decisions before implementing them. This will make sure that decisions
made are ethical and will have positive impacts on both stakeholders without any effects. As a
result, the outcomes are expected to be profitable to the firm unlike when the unethical decisions
Competition
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are made where the company decides to solve the problem through negative advertising. In this,
the business will attack its competitors by showing its demerits which is an unethical way of
solving the problem. Also, the company can yield a maximum profit by ethically using new
technology to boost its customer pool.
Using unethical ways to compete with competitors can be dangerous to any firm. Ideally,
companies need to understand productivity can only result from approaching the challenge
ethically. For example, advertising the services of MovieFlix through harmful advertising
techniques can have adverse outcomes. Through this advertising, consumers are likely to
abandon their services only because of focusing more on the disadvantages of their competitors
instead of focusing on how to improve its products and giving the same information to the
customers. Further, an unethical approach can lead to the company being sued by its competitors
when it behaves to attack its competitors through its methods to solve the competition problem
(Sekaran & Bougie, 2016). Failure of a firm is possible when unethical decisions are made in
solving competition challenge. This is because a company can make decisions which are against
the moral values of the society hence pushing away customers.
As a consultant, the firm needs to first before making any decision to examine whether there is
any dilemma. Through this, it will be easy to make decisions which meet the accepted ethical
values. Besides, the company needs to develop a plan that gives ethical considerations the
priority. Through this, it will be easy for it to approach the problem ethically and enhance its
profitability.
To conclude, competition is inevitable in business. As noted in the above discussion,
approaching problems in an ethical way leads to profitability while unethical manner can lead to
Competition
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failure of a firm. It is therefore essential to examine and analyze decisions before they are
implemented.
Competition
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References
Sekaran, U., & Bougie, R. (2016). Research methods for business: A skill building approach.
John Wiley & Sons.
Zahra, S. A., Gedajlovic, E., Neubaum, D. O., & Shulman, J. M. (2009). A typology of social
entrepreneurs: Motives, search processes and ethical challenges. Journal of business
venturing, 24(5), 519-532.
Competition
1
Competition
Lisa K. Flatin
Rasmussen College
November 28, 2017
Author Note
This paper is being submitted on November 28, 2017, for Glen Philbrick’s
B280/GEB2930 Business Capstone Course.
Competition
2
MovieFlix Company
MovieFlix Company has experienced a reduction in its sales as a result of the stiff
competition from other Companies that offer the same products as MovieFlix Company. Therefore
it is important for the Company to find better strategic plans to solve the issue of the stiff
competition.
SWOT Analysis
Internal strengths
Internal weakness
External
External threats
opportunities
Brand name
Weak administration
New markets
Stiff competition
Huge market share
Poor supply chain
Online marketing
Substitute Goods
Goods
Unavailability of the
International
High costs
strategic plan
expansion
Internal strengths
The internal strengths such as the brand name, existence of goods, and huge market shares
have been chosen since the company is able to produce goods for the consumers, which have also
led to the huge market shares. Additionally, it is the brand name that the company has been able
to run for long.
Internal weakness
Internal weaknesses have been chosen because of the existence of the drop in the sales of
the products. For instance, it is through the weak administration that the appropriate strategic plans
cannot be developed in the company (Cunningham, & Silver, 2013). The poor supply chain has
also affected the sales of the products since the goods do not reach the consumers in time and it is
also difficult to reach new clients who might not be aware of the products of MovieFlix Company.
Competition
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External opportunities
External opportunities are described as the existing chances that the company can use to improve
its sales. For instance, the international markets expansion can be a good strategy to reduce the
stiff competition that the company has faced for long. Additionally, through the online marketing,
the people from different nations will be able to know more about the MovieFlix products hence
purchase them leading to the increase in the sale by the Company.
External threats
External threats have acted as the major reasons why there has been a reduction and stiff
competition to the MovieFlix Company. For instance, as a result of the existence of the substitute
goods, MovieFlix Company finds it hard to sell most of its products. Additionally, the high costs
of the goods also make the customers purchase from other firms that offer products are lower
prices. Furthermore, the availability of the stiff competition from other forms also makes the firmto
experience low sales rate of the products since most of the clients will buy from the other firms
(Cunningham, & Silver, 2013)
Solving the problem
To solve increased competition problem, MovieFlix should get on developing new markets in
other new countries. It is significant to recognize that this will not lead to the immediate generation
of the profits but leads to the expansion into the international market. The company can also partner
with other existing foreign firms and start providing services through these companies’ cables and
set-top boxes (Sekaran, & Bougie, 2016).
Competition
4
REFERENCES
Sekaran, U., & Bougie, R. (2016). Research methods for business: A skill building approach.
John Wiley & Sons.
Cunningham, S., & Silver, J. (2013). Online Distribution: A Backbone History. In Screen
Distribution and the New King Kongs of the Online World (pp. 13-31). Palgrave Pivot,
London.
Competition
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